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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (65484)	5/10/2002 4:44:13 PM
From: brightness00	Respond to of 99280

Count me in the radish camp. I shorted again yesterday to hedge the exposed puts that I had after covering on Tuesday morning. I could have done just as well by covering the put shorts, but the time premium was too appetizing to pass up, so I let them stay and opened equity shorts to hedge. I doubt we can get QQQ above 32.5 next week. Could have shorted close to 32 instead of around 31.5 where I did, but I was waiting for the market to tell me whether I should hedge the puts I had written or close the puts themselves by waiting to see if QQQ could move beyond 32. The fact that it fell apart just below 32 is indicative to me that the MM's ran this whole pile of trash up on Wednesday just to hedge their puts between 31 and 32.